Mortgage fraud reports rise 31% in 1Q

06/30/2011 2:55 PM | Anonymous

Mortgage fraud reports grew 31% in quarter one as lenders probed deeper into their pools of distressed assets looking for signs of fraud and theft.

The Financial Crimes Enforcement Network, which is part of the Treasury Department, released its first-quarter Mortgage Loan Fraud report Tuesday, which shows suspicious mortgage activity reports growing to 25,485 complaints in first quarter, up from 19,420 last year.

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